VAALCO Energy, Inc. (NYSE:EGY) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

As previously announced, on March 14, 2017, the International Finance Corporation (IFC) approved the request made by VAALCO Gabon (Etame), Inc., as novated, VAALCO Gabon S.A., (the Subsidiary) to borrow $4,166,500 of additional funds under its Supplemental Agreement with the IFC which was executed June 29, 2016.  The Subsidiary received these funds on March 20, 2017. The Additional Term Loan amount shall be amortized in substantially equal quarterly installments through June 30, 2018, but shall otherwise be subject to the same terms and conditions as the currently outstanding Term Loan.

  











 

  

About VAALCO Energy, Inc. (NYSE:EGY)

VAALCO Energy, Inc. is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and natural gas. Its segments include Gabon, Angola, Equatorial Guinea, the United States, and Corporate and other, which includes corporate and operations support. It owns producing properties and conducts exploration activities as an operator in Gabon, West Africa; conducts exploration activities as an operator in Angola, West Africa, and participates in exploration and development activities as a non-operator in Equatorial Guinea, West Africa. In the United States, it operates unconventional resource properties in North Texas and hold undeveloped leasehold acreage in Montana. It also owns minor interests in conventional production activities as a non-operator in the United States. Its Etame Marin block is located offshore the Republic of Gabon. It owns over 640-acre lease in the Hefley field (Granite Wash formation) in North Texas.

VAALCO Energy, Inc. (NYSE:EGY) Recent Trading Information

VAALCO Energy, Inc. (NYSE:EGY) closed its last trading session down -0.054 at 0.892 with 610,993 shares trading hands.